|
|
October 6, 2008
by Elaine Frei
European equities markets declined sharply Monday as the euro weakened, oil and metals prices fell, and bank bailouts spread to Europe from the US.
German chancellor Angela Merkel said that her government will guarantee private accounts to prevent a run on banks, while Denmark also announced that deposits will be insured against losses and the Chancellor of the Exchequer in the UK ...
October 3, 2008
by Elaine Frei
European equities markets were higher Friday on speculation that major central banks will cut interest rates soon, after the president of the European Central Bank said that Bank officials discussed cutting rates before deciding yesterday to hold steady at 4.25 percent for the present.
Gains also came on indications that the US House of Representatives is now ready to pass a rescue ...
October 2, 2008
by Peter Charalambous
The Chartered Institute of Purchasing and Supply's (CIPS) purchasing managers' index fell to 41 last month which marks its lowest since the recession of 1992, shrinking at its fastest rate for 17 years.
This latest survey will only go towards fuelling the current climate of discontent as the UK stumbles into recession.
The figure of less than 50 on the index indicates ...
October 1, 2008
by Elaine Frei
European equities markets were mostly higher Wednesday as the US Senate prepares to vote on its version of a $700 billion bailout plan for the US financial sector and on increased optimism that the House of Representatives will approve the plan when it revisits it later this week.
In London, the FTSE 100 was up 1.17 percent to 4,959.59 while the FTSE ...
September 30, 2008
by Elaine Frei
European equities markets ended higher Tuesday after big declines Monday.
The gains came on assurances from both Democrats and Republicans in the United States that Congress would pass a bailout of the US financial sector, with many promising that it would happen before the week is out.
Banks in the region were mixed, with Bank of Ireland (ISEQ: BKIR; LSE: BKIR: NYSE: IRE) ...
by Peter Charalambous
UK consumer confidence has continued to remain close to the record low this month, as the pessimism that surrounds the economy remains in the minds of shoppers.
A recent study by Gfk NOP revealed that consumer confidence is similar to what was experienced during the last recession.
The fall in consumer confidence will mean that consumers in the UK are likely to continue ...
September 29, 2008
by Elaine Frei
Wall Street was down sharply Monday as the US House of Representatives refused to pass a plan to bail out the US financial sector amid partisan recriminations, with the Dow Jones Industrial average losing the most points in a single session in its history.
The Dow dropped 777.68 points on the session, nearly 100 points more than the previous record of ...
September 26, 2008
by Elaine Frei
Equities markets in Europe saw declines Friday on delays in the approval of the US bailout plan and on the failure of US savings and loan Washington Mutual (NYSE: WM).
The delays in approval for the plan to buy up bad loans from banks came as some Republicans refused to support the plan, while the WaMu failure was the ...
September 25, 2008
by Elaine Frei
Banks and insurers led European equities markets higher Thursday on the possibility of takeovers in both sectors and on the hope that an agreement on the US bailout plan will come soon.
The FTSE 100 added 1.99 percent to 5,197.02 in London, while the FTSE 250 gained 0.32 percent to 8,434.65.
All five of the biggest gainers on the 100 were in the ...
September 24, 2008
by Elaine Frei
European equities markets were lower Wednesday as rising oil prices hurt carmakers and on remarks from US Federal Reserve Chairman Ben Bernanke that the credit crisis is hurting spending by businesses and individuals.
In London the FTSE 100 was down 0.79 percent to 5,095.57 while the FTSE 250 fell 0.56 percent to 8,407.36.
British Energy Group (LSE: BGY) added 5.66 percent after French utility EDF (Euronext: EEN) said ...
September 23, 2008
by Elaine Frei
European equities markets declined Tuesday after US Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee that if Congress fails to pass the government’s $700 billion plan to buy bad debts from banks, markets and the economy could be harmed.
Mr. Bernanke characterized financial markets as currently under “extraordinary stress”.
Despite Mr. Bernanke’s warnings, however, some lawmakers on both sides ...
September 22, 2008
by Elaine Frei
European equities markets declined Monday on higher oil prices that hurt the retail and travel and leisure sectors even as Germany, France, the Netherlands and Belgium all banned short-selling of shares in some companies, following the example of the US and the UK as well as some Asia-Pacific nations.
In London, the FTSE 100 was down 1.41 percent ...
September 19, 2008
by Elaine Frei
The FTSE 100 had its biggest percentage gain in history Friday as European markets soared on plans to rebuild confidence in the markets by the US and UK governments and others.
Among the measures taken or planned, central banks have pumped new money into financial systems, China abandoned a tax on stock trading and said it will buy shares ...
September 18, 2008
by Elaine Frei
European equities markets were mixed Thursday, but most were lower on suspicions that plans by central banks to put more money into the financial system will not be enough to avoid more meltdowns related to the credit mess.
In London the FTSE 100 was down 0.66 percent to 4,880 but the FTSE 250 added 0.32 percent to 8,336.8 on ...
September 17, 2008
by Elaine Frei
European equities markets were lower Wednesday after US housing starts declined in August and on declines among miners as investors worried about demand for metals.
In London the FTSE 100 was 2.25 percent lower to 4,912.4 while the FTSE 250 dropped 1.18 percent to 8,309.8.
The top five decliners on the 100 were all from either the banking or mining sector, with ...
September 16, 2008
by Elaine Frei
European equities markets were mostly lower Tuesday on continuing fallout from the Lehman Brothers (NYSE: LEH) bankruptcy and after Standard & Poor’s and Moody’s Investors Service both cut their credit ratings on US insurer American International Group (NYSE: AIG).
This downgrade will likely make it more difficult for AIG to raise the money it needs to remain in business.
In London, ...
September 15, 2008
by Elaine Frei
European equities markets saw substantial declines Monday as Lehman Brothers (NYSE: LEH) declared bankruptcy and Merrill Lynch (NYSE: MER; TYO: 8675) allowed Bank of America (NYSE: BAC; TYO: 8648) to take it over.
The Lehman bankruptcy was forced after takeover talks with Bank of America and Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) fell through and the US government refused to ...
September 12, 2008
by Elaine Frei
European equities markets were higher Friday.
In London, the FTSE 100 added 1.85 percent to 5,416.7 while the FTSE 250 gained 1.15 percent to 8,976.7, with the 100 led by miners.
Gains in the prices of industrial metals sent Eurasian (LSE: ENRC) up 9.06 percent while Anglo American (LSE: AAL) was 8.4 percent higher, Rio Tinto (LSE: RIO) added 7.98 percent and BHP ...
September 11, 2008
by Elaine Frei
Equities markets in Europe declined Thursday on concerns about earnings in the retail and financial sectors.
In London the FTSE 100 was down 0.89 percent to 5,318.4 while the FTSE 250 dropped 1.03 percent to 8,874.9.
Most retailers were lower, with DIY retailers down on declines in sales as Kingfisher (LSE: KFG) dropped 5.38 percent and Home Retail Group (LSE: HOME) ...
September 10, 2008
by Elaine Frei
European equities markets were lower Wednesday after the European Commission forecast that the Eurozone economy will grow by only 1.3 percent this year, down from an earlier prediction of 1.7 percent growth and a separate report from the National Institute for Economic and Social Research said that the UK economy will see its first contraction this year in at ...
|
|
